WARRENVILLE, Ill. (August 8, 2011) Navistar Defense, LLC today announced that it received both a contract extension and a delivery order to support Afghanistan Security Forces. The $28 million order from the U.S. Army TACOM Life Cycle Management Command calls for 194 general troop transport vehicles. The contract extension runs through December 2011 and has a ceiling of $83 million to allow for additional vehicle orders and support packages.
“Supporting the Afghanistan Security Forces has been one of our initiatives since 2005 and it is essential for our nation’s success,” said Archie Massicotte, president, Navistar Defense. “Today we have nearly 12,000 Navistar vehicles serving in security and rebuilding missions with Afghan forces. All of those vehicles leverage our current commercial platforms and we’ll continue to support those units throughout their 15-20 year lifecycles.”
Under the delivery order, Navistar will provide general troop transport vehicles based on the International® 7000-MV, or WorkStar®, platform as well as parts. Other variants currently serving in Afghanistan include wreckers, water tankers and fuel trucks.
“Providing vehicles to allied forces continues to be one piece of our business strategy,” said Massicotte. “While we are always pursuing new sales, providing sustainment services to our fleet of more than 32,000 vehicles also keeps us on track with our goal to maintain a $1.5 to $2 billion revenue base.”
Production will occur at the company’s Garland, Texas, and West Point, Miss., assembly facilities.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco® RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see Item 1A, Risk Factors of our Form 10-K for the fiscal year ended October 31, 2010, which was filed on December 21, 2010. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
Media Contact: Elissa Koc, 331-332-2669
Investor contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom